P.S. Since McCain's out there calling for a restoration of Glass-Steagall, how is he going to find a way to oppose Obama's more limited restriction on deposit-taking banks -- banning proprietary trading only rather than investment banking activity generally?
P.P.S. Perhaps this new assault is part of a political two-stroke. Obama has said that he hasn't done a good enough job explaining how the health care bill will improve life for ordinary Americans. Meanwhile he's gotten on the wrong side of populist rage against the megabanks. I expect that in the SOTU he will attempt to weave bank curbs and universal health care together as a platform that will bolster security and opportunity for the middle class -- and dare the Republicans to obstruct both measures.
UPDATE: The Times reports, 1/23:
His first big chance [to reconnect with voters] will come when he delivers his State of the Union address. Rather than unveil a laundry list of new initiatives, advisers said, Mr. Obama will try to reframe his agenda and how he connects it with public concerns. In particular, he will focus on how his ideas for health care, energy and financial regulation all fit into the broader economic mission of creating what he calls a “new foundation” for the country, the key words being “rescue, restore and rebuild.”